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Penn Online Gaming in the Black

February 7, 2023

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Penn Online Gaming in the Black

For the first time in the history of the company, Penn stated that its online casino gaming and sports betting division generated a profit in the fourth quarter of 2022. Penn joins FanDuel parent firm Flutter Entertainment as the only significant US sports betting company to claim a profitable quarter for its online gaming sections. However, more could follow as other businesses report earnings in the upcoming weeks.

For the fourth quarter of 2022, Penn Interactive reported adjusted EBITDA revenues of $5.2 million. In comparison to Q4 2021’s $157.6 million, the company’s interactive business recorded $208 million in revenues for Q4 2022. These numbers also reflect the 31 controlled retail sportsbooks run by the business.

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